When you are involuntarily retrenched, this product will take care of your monthly vehicle instalments, leaving you to focus on finding alternative employment and not worry about paying your monthly vehicle instalments.
Important notes to remember
There is no cover for the first three (3) months after inception of this policy.
The benefit is payable only in the event of an involuntary retrenchment.
The first month after retrenchment you will be responsible for your finance instalment. The policy will only start paying the monthly instalment from the 2nd month after your retrenchment.
The benefit is limited to six (6) months’ monthly instalments after the first retrenchment, with a further three (3) months benefits left in the event of a second retrenchment. The total and maximum benefit is nine (9) months’ instalments.
Payment of the policy benefit will stop after re-employment or when the maximum benefit has been paid.
The following people are not eligible to purchase a Retrenchment Policy
Self-employed individuals
Sole proprietors
Partners in firms or associations
Members of a close corporation
People who are employed in a business owned by a member of their family
Please speak to your Dealer or contact Volkswagensure on 0800 204 638 if you have any queries or to receive a quote.
Volkswagen Financial Services is a division of WesBank, a division of FirstRand Bank Limited. An authorised Financial Services and Credit Provider. NCRCP20
